US jobless rate falls to 7.8 pct., 44-month low

WASHINGTON (AP) — The US unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years. The rate fell because more people found work, a trend that could impact the presidential election.

The Labor Department says employers added 114,000 jobs in September. The economy also created 86,000 more jobs in July and August than first estimated. Wages rose in September and more people started looking for work.

The revisions show employers added 146,000 jobs per month from July through September, up from 67,000 in the previous three months. The unemployment rate fell from 8.1 percent in August, matching its level in January 2009 when President Barack Obama took office.

The decline could help Obama, who is coming off a disappointing debate against Mitt Romney.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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Guest: unemployed in NC

The job numbers are going down for several reasons. Every year, retailers start the seasonal hiring period for Thanksgiving and Christmas holidays. This happens EVERY year at this time. I can tell you, after working many years in retail, the number of people hired this year reflects part-time employees. You can hire twice the number of part-time employees for the price of one full time employee. So the numbers don’t tell you these positions are part-time, seasonal help. They do, however, make the numbers hired appear to be good, when they really aren’t. Nobody can make ends meet on part-time, minimun wages. After Christmas is over, these people will be laid off…..same cycle every year!

Another reason is, many who have been drawing unemployment have used up all their eligibility time. Once they drop out the system, they are no longer counted. The economy isn’t moving in the right direction! I have been unemployed for a year and actively seeking work. You can’t make me believe that the economy is better. Our savings is gone and we are barely making it from pay day to pay day.

John

I find it rather funny how the GOP, and there devoted followers think… So you’ll use the unemployment rate numbers when they are not favorable for the Democratic President, but when the numbers go down in his favor you call bull****. WOW! it must be fun being so ignorant… The same steps and procedures go into place every month, and every month they come out with a number in the following month they revise this number if need be such as August it was reported that 109,000 jobs were created… well after more information had came in the BLS confirmed that actually they missed 92,000 jobs and the total was 201,000 jobs for August…

Truth is the economy is moving and in the right direction, and you can’t stand it… so cry me a river.

Beerman

This is just politicking before an election. This number was created by excluding those who have re-entered the workforce in part-time positions. If you look at other, more credible news sites – you’ll see that has been pointed out numerous times – the U-6 rate is still at 14.7% which means even more folks are settling for part-time jobs. So, the fact that there are more folks working at McD’s is not a fair representation of a rebounding economy. Instead, it shows some folks are so desperate, they’ll take anything – even if they can’t make enough to pay their bills.